In terms of small tools, I agree with Chris on most of the hand tools but some modern power hand tools might also make sense (power drills and jigsaw in place of a brace and bowsaw).

That said, I'd highly recommend also getting one of the small Dwealt table saws with stand, and their power plainer!You might also get a drill press and 14" bandsaw - you'll need hand tools though & the book is great for walking you through that.

If your not so interested in handwork, a table saw, chop saw & Festool Domino 500 is a very good way of doing high quality but simple projects (casework, coffee tables, ect).

Do you have any examples of the projects you want to do? That will determine tools to some extent. Also how much room you have is a good question. I'd expect to spend maybe 5k over a few years to get solidly into woodworking, but you may need to spend 1-2k initially to tool up.

...building off of #5... more complicated doesn't always mean better. Perfectly done dovetail joints are very pretty but they aren't as strong as properly glued box or rabbet joints (which are way faster to make). Pocket-screw joints are "strong enough" in all but the most demanding applications. If the joint is going to be hidden from view a simpler, faster joinery method might make more sense.

...building off of #5... more complicated doesn't always mean better. Perfectly done dovetail joints are very pretty but they aren't as strong as properly glued box or rabbet joints (which are way faster to make). Pocket-screw joints are "strong enough" in all but the most demanding applications. If the joint is going to be hidden from view a simpler, faster joinery method might make more sense.

This is very wise advice. It's fairly easy to hide pocket holes in most scenarios and the combination of strength and ease is fantastic.

Woodworking is accessible to people of all ages, skill levels, and budget. Don't expect to be the Wood Whisperer overnight, but there are plenty of woodworking websites that offer free plans and tutorials to help you every step of the way. there are 5 ways for beginning the woodwork.1. You are not perfect and never will be

Neither is anyone else who works with wood, despite what they say about themselves or others. You just get better at it, and the only way to do that is to practice, screw up, and learn from your mistakes. You will screw up and have to start over. But remember, it's only wood.

2. Tools don't make the woodworker

Practice and patience do. You may be made to feel inferior because you don't have a $3,000 cabinet saw, but your bench top or contractor saw can rip a board just fine. Oh, and guess what? Those skilled craftsmen centuries ago didn't have electric-driven gizmos. And on that note, you don't have to be a master with hand tools either.

3. The size of your shop does not define you

Got half a garage, or half of a half of a garage? Then you can get started. Move out into your driveway or backyard when the weather permits. You don't need a monster of a shop to make amazing things.

4. Don't underestimate the importance of safetyTake the time to learn about your tools and what not to do. You have no excuse, especially with blogs like Chief's Shop and the multitude of books and magazines available. Be sure to look at more than one source as well to learn different techniques.5. Ask ten woodworkers how to do something and you'll get ten different answers, and they're all rightMethods for skinning a cat have nothing on ways to build a bench. Explore different joinery methods and work with those that you are able to complete the best. Don't overcomplicate something when it doesn't need to be. There's a reason tools have improved, glue has gotten better, fasteners stronger, and new joinery methods have been introduced. A lot of the time the focus in woodworking is on finding shortcuts to get the same or better results. Don't let joinery snobs influence you.

@Clara Smith, if you're going to post articles and blog posts word for word, at least credit the source.